Sevco chief executive Craig Mather has walked away from his job with the Third Division champions.
Mather stepped in as chief executive after his close friend and business partner Charles Green walked away from his beloved club in April while pocketing a £360,000 severance payment taking his earnings for less than a year to over £900,000 while retaining a substantial shareholding with shares bought for one penny.
The decision of Mather to walk away comes one week after director Ian Hart walked away to concentrate on his ‘charity work’.
Just two days ago at the Court of Session in Edinburgh Mather and his fellow directors had their bid to host an AGM on October 24 rejected after illegally preventing Paul Murray and his Ibrox rebels from standing for election to the board.
Mather’s departure will come as a body blow to Ally McCoist who spoke in the summer about his marvellous relationship with the Nottingham based spiv and how they often shared a beer together and discussed their love of Bruce Springsteen.
McCoist has recently spoke in glowing terms about glib and shameless liar Dave King as well as how much he admired Charles Green and Craig Whyte.
In an emotional announcement on the Sevco website this morning, after announcing his departure to the Stock Market, Mather said: “Despite recent events and speculation, the facts of the matter are that the Club is financially secure and in a far better place than it was a year ago.
“Unlike most football clubs Rangers has money in the bank, no borrowings and this season we have assembled a squad which is capable of progressing through the leagues.
“I have enjoyed a very constructive relationship with Ally McCoist and wish him and the team every success.
“My short tenure as chief executive has been beset by incessant attempts to destabilise the operations of the Club, all done supposedly in the interests of Rangers.
“I had real faith in the rebuilding of Rangers and invested significantly in the Club. Sadly, those who have been most active in upsetting the very good progress we have been making were not willing to do the same.”
With Mather joining his colleagues Green and Imran Ahmad in walking away financial director Brian BS Stockbridge is the only remaining director still involved at the club.
Stockbridge is likely to quit in the next 48 hours which could result in the suspension of share trading with the club without a chairman, chief executive or directors.
Despite having full disclosure on ownership and seeing a viable business plan it’s unlikely that the SFA will step in and take any action despite having a clearly dysfunctional club operating in the third tier of the game.
Mather retains his Sevco shareholding and is of course a massive fan of the club and friend of McCoist.
The club statement failed to inform supporters that fellow director Bryan ‘Billy’ Smart has also walked away from the club.
In a separate movement former commercial chief Ahmad is expected to have the first stage of his £500,000 compensation case heard this morning.
Must be the marching season again, cause theres plenty of ” walking ” being done down at diebox, TIK TOK TIK TOK.
Does Sally not realise that Bruce Springsteen is a Celtic supporter?
THEY SOUND LIKE A PUB TEAM, THEY PLAY LIKE A PUB TEAM, AND THERE RAN LIKE A PUB TEAM, SEVCO, THE TEAM THAT JUST KEEPS ENTERTAINING…HAIL HAIL, 125 YEARS OF DIGNITY+
and they,ve been playing in pub leagues, for the past 15 month! Bring on Ajax, Milan and Barcelona! HAIL!HAIL1
So the fat pie eater is a Sprinsteen fan, i wonder which is his favorite song.
BETTER DAYS
BORN TO RUN
CAUTIOUS MAN
IM GOIN DOWN
LAST TO DIE
NO SURRENDER
REAL WORLD
ROCKY GROUND, but i think i know the sleekits favorite wee Springsteen ditty,
WILD BILLY’S CIRCUS STORY… hail hail, god bless the Celtic+
Burst for bonfire night is the latest from in the corridors of ibrox
these words keep popping up in my thoughts. ship .rats.sinking.bellylaughing .bhoys.
There’s a darkness on the edge of town….
Hope they don’t discover the link with all those Walkaways is the Pieman.Marching,Walking and Running,.
they are Gold Medallists.Simply The Best.Surely
So you invested in the Club, Really? All so confusing this Club/Company thing (Clumpany)..
And the only reason there is no Borrowings is because nobody with half a brain would be stupid enough to give any credit to a dysfunctional business such as them with the previous Clumpany’s shenanigans ripping off hundreds of creditors.
It really is starting to irritate me all this nonsense coming out of that midden, it was fun for a while, but sick to the back teeth with it all now, every day it’s them and their BS, the whole of Scottish football has become a total basket case due to the shenanigans between this mob and the football authorities, one big negative after another.
And I just hope the Sfa etc have learned lessons for when administration 2 comes around, don’t give this anymore preferential treatment, let them have enough rope to hang themselves and be rid of them for good. All this BS could have been avoided if the rules/ procedures/consequences where applied properly two years ago.
HH
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Well said Tam
Eloquently put Tam, I concur
he he he
Joe, what makes you think that Brian Stockbridge will quit in the next 48 hours? Just curious, as this would have serious consequences for Sevco surely?
MAN OVERBOARD!!!!
HH
Sevco chief executive Craig Mather has walked away from his job with the Third Division champions.
one week after director Ian Hart walked away to concentrate on his ‘charity work’.
Mather’s departure will come as a body blow to Ally McCoist who spoke in the summer about his marvellous relationship with the Nottingham based spiv and how they often shared a beer together and discussed their love of Bruce Springsteen*.
McCoist has recently spoke in glowing terms about glib and shameless liar Dave King as well as how much he admired Charles Green and Craig Whyte.
Applause.
Bruce Springstein….Bravo.
Keep up the good work Joe.
HH
Who cares ?????????
Agreed. This website mainly posts about rangers unfortunately.
This is a serious mess. More to this than meets the eye. ..maybe to do with recent float…wrongful trading??
Can’t believe noone sees the implications. ..more to do with lack of corporat finance abilities. This is seriously shi.
If every time one off these {RANGERS MEN} or {FOOTBALL MEN} or {MORONS}, what ever they call them selfs, did a walk away,if they brought a bucket and called it a sponsored walk,the clowns would be millionaires. hail 125 hail.